Mumbai: The Sensex ended at a new all-time high at 6039.00 and even as late sell-off by local financial institutions pared major part of early gains in an otherwise erratic movements at the Bombay Stock Exchange (BSE) in Mumbai today (Jan 5, 2004).

Starting on a firm footing at 6050.48, the BSE Benchmark 30-share Index later moved in a wide range between 6078.11 and 5964.65 before ending at 6039.00 as against last Friday's close of 6026.59, a net gain of 12.41 points or 0.21 per cent.

Commenting on the unprecedented stocks rally that has sent blue chips to dizzy heights, analysts strongly believe that the Sensex might touch the 7000-level in the current year.

Brokers said the sentiment remained bullish with unabated buying support from Foreign Institutional Investors (FIIs) and bulls even though domestic funds led by the Unit Trust of India reportedly booked profits at the day's higher levels.

Second-line PSU (Public Sector Undertaking) stocks like National Fert, RCF, HMT Ltd, STC India, VSNL, Neyveli Lign, Kochi Refinery, GAIL, BPCL and Guj Mineral were in the limelight on hectic buying support.

FIIs, which have made record net investments in 2003, were net buyers to the tune of Rs 1,106 crore in the first four sessions of last week.

The broad-based BSE-100 Index improved further by 14.38 points to 3251.43 from previous close of 3237.05.

Though losses outnumbered gains in the index-based stocks list, the Sensex could close in positive territory as a result of hefty rises in heavyweights like Infosys Tech, ITC, SBI, MTNL and ICICI bank.